Question

n 1991, the cost of a first-class stamp was 29 cents, and the inflation rate was 4.6%. If the inflation rate stayed constant, the function
c(t)=0.29(1.046)^t

would represent the cost of a stamp as a function of years since 1991. According to this function, after how many years would the cost of a stamp reach 60 cents?
A. 54 years
B. 2.4 years
C. 16 years
D. 9 years

Answer 1

c is the correct answer